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Puerto Rico Seeks Title III Bankruptcy Protection
Posted: Wed May 03, 2017 12:24 pm
by Ad Orientem
http://www.reuters.com/article/puertori ... SL1N1I50ZK
Title III ( a new law written with PR in mind) doesn't use the word "bankruptcy" since it is intended only for US Territories and possessions. But for all practical purposes it's the same thing. This is going to be the biggest by far municipal bond default in US history.
Re: Puerto Rico Seeks Title III Bankruptcy Protection
Posted: Wed May 03, 2017 12:41 pm
by Ad Orientem
Re: Puerto Rico Seeks Title III Bankruptcy Protection
Posted: Wed May 03, 2017 1:06 pm
by ochotona
Local government officials are even dumber and more corrupt than Federal. This does not surprise me.
Re: Puerto Rico Seeks Title III Bankruptcy Protection
Posted: Wed May 03, 2017 2:48 pm
by Libertarian666
No one could have predicted this!
If you don't count anyone who knew anything about how bad PR's finances were, anyway...
Re: Puerto Rico Seeks Title III Bankruptcy Protection
Posted: Wed May 03, 2017 3:33 pm
by dualstow
I own a lot of Vanguard's muni bond funds. VP of course. I guess I'll be taking a hit, but not much.
Re: Puerto Rico Seeks Title III Bankruptcy Protection
Posted: Wed May 03, 2017 4:37 pm
by Libertarian666
dualstow wrote:I own a lot of Vanguard's muni bond funds. VP of course. I guess I'll be taking a hit, but not much.
So this time there is just one cockroach?
